There will be another big change in the property market! This 2015, new plans are ironed out for the building developments in Brisbane. Real estate properties like apartments, commercial buildings and even skyscrapers are set to be built by 2015!
The Brisbane Skytower from property group Billbergia and the new $800 million skyscraper from the Shayher Group will be racing to finish the construction on their new buildings as both are expected to reach 274 metres so they will both be racing for the title of the tallest building in the city.
The Brisbane Skytower, while plans currently show it will only reach 274 meters, is currently under discussion and may overtake the Shayher Group’s building.
Plans have been lodged to raise the height of the building an additional 26 meters to 300 meters tall. It is unknown whether these plans will be approved however, with the chance that the height may cause disruptions for flight paths.
If the plans are approved however, the Brisbane Skytower will become one of Australia’s tallest buildings.
300 George Street
Shayher Group was approved in 2013 to build an $800 million trio of towers that will be on the former Law Courts site. The Taiwan-based company bought the site from the government in early 2013.
The development will produce a 32-storey five-star hotel that will feature 305 rooms with 12 retail and commercial tenants and an express supermarket.
The other two towers will include a 274 metre residential tower and a 39-storey (182m) office building.
Construction is expected to commence early 2015.
William Street Development
Joining the Brisbane Skytower and the Shayher Group’s skyscraper on Brisbane’s ever growing skyline, is also the “tower of power” government building that is being built on 1 William Street which is expected to reach only 267 metres, including its spire, not quite reaching the heights of the other buildings. CBUS Property hold the contract for the development.
The project is expected to be completed by 2017 and upon completion will create over 1000 jobs.
Queen Street Development
Development applications have also recently been lodged for the residential tower at 550 Queen Street, near John’s Cathedral, which unlike the other sky-high towers, will only reach 134 meters. The 40-level, $200 million development has been named Spire with Consolidated Properties looking after the development.
The building’s location and its design is set to provide apartment owners with expansive views of the city, the Story Bridge and Brisbane River.
All the buildings expected for the coming years are reaching heights of over double of what was being reached during the 1960s, with the tallest building then reaching only 92 meters.
Reaching New Heights
Not only are the buildings reaching new heights, but the amount of skyscrapers in the city is also growing. Brisbane Lord Mayor Graham Quirk has said that 25 buildings have been constructed in the CBD in the past 25 years and that more than 50 will be built within the next 20.
“We’re going to see a gradual evolutionary change to our skyline. It won’t happen overnight. The market will determine when those buildings rise,” Councillor Quirk said.
“Brisbane will never be seeking the world’s tallest building, but we would like to see more flexibility around the (274m) number, we’ve had the height limit of 274 metres for a long time now, but this is the first time someone has wanted to build to that height.”
Build to that height they will, with plans for completion expected in 2018, all the buildings will be setting a new level for future developments.
The Queens Wharf development will also produce another skyscraper for Brisbane’s skyline however the details for the development have not yet been finalised until a developer can be named.
Sydney Baby Boomers drive real estate boom in Brisbane
A MIGRATION of cashed-up Baby Boomers from Sydney will lead to a real estate boom in Brisbane, according to property investment experts.
A Property Investment Professionals of Australia (PIPA) members’ survey revealed that Brisbane was regarded as the best capital city for property investment.
Of the members who participated in the survey, 46.15 per cent rated Brisbane as the best capital for investment prospects in 2018.
PIPA chairman Peter Koulizos said the Queensland capital was expected to boom as a side effect of the Sydney property boom happening when Baby Boomers were looking at retiring.
“People that have a lot of equity in their home can retire or semi-retire by selling up and buying a home in southeast Queensland,” Mr Koulizos said.
And with the median house price in Sydney more than $1 million, he said this would give them a sizeable pile of cash left over after buying a home further north.
“That is because there is such a big price difference between Brisbane and Sydney,” he said.
A PIPA survey from last year also rated Brisbane as the best capital city in which to invest, but in the past 12 months the average house price has increased by just 2.9 per cent.
Mr Koulizos said a boom would come eventually, but picking the exact point was tricky.
“Property booms take a long time to gather momentum, I doubt you will see double digit growth in Brisbane this year but it may be different next year,” he said.
Melbourne was the next best investment option according to the survey, with 19.23 per cent believing it was a good place to invest, followed by Perth at 15.38 per cent.
Originally published: brisbaneinvestor.com.au
The property clock strikes big for hot spot areas
9 Lion St, Ipswich. Picture: realestate.com.auSource:Supplied
DESPITE last month’s previous lacklustre values, analyst Michael Matusik has identified the areas on the upswing.
While property values remained fairly stagnant during February, property analyst Michael Matusik has revealed where the housing market is on the upswing.
Mr Matusik’s latest property clock for houses, has Brisbane, Gold Coast, Logan, Redlands, Sunshine Coast and Gympie all in upswing.
He said a market’s position on the property clock was based on the strength and direction of key indicators including sales numbers, price and rent, demand and how much new supply there was.
His latest Matusik Missive also listed Ipswich, the Fraser Coast and Noosa markets as heading into upswing territory.
Ipswich has many beautiful homes, often at prices well below what something similar would cost in Brisbane’s suburbs. A four-bedroom home at 9 Lion St,Ipswich is listed for $879,000.
The land the home sits on was bought in 1904 from the family of the then Ipswich Mayor Mr Pettigrew. A home was built on it in 1907.
The period home has 3.5m high ceilings, VJ walls, period window, and timber floorboards which have all been restored.
The home has two new bathrooms, a large separate dining area and study. It is listed through Steve Athanates of NGU Real Estate Ipswich.
On the Gold Coast at Robina, 196 Easthill Drive is listed for more than $850,000.
The three-bedroom home is within the Glades Golf Community.
It has formal and informal living and dining areas, and an outdoor entertainment area with a swimming pool nearby.
It is listed through Ian and Linda Mills of McGrath – Palm Beach.
On the Sunshine Coast at Noosaville a home at 15 Bluebell Court is listed for offers of more than $740,000.
The three-bedroom home is in a cul-de-sac in a residential pocket bordered by the Lake Doonella Reserve.
The single-level home has open plan living and dining areas. An outdoor area overlooks the pool and reserve at the rear of the property.
It is listed through Tansy Grant and Justin Sykes of Ray White – Noosa.
Originally published: brisbaneinvestor.com.au
Where to invest: These are the suburbs where house prices are tipped to grow
Annaliese Bullock, 27 with husband Jared, 27 and daughter Lyla 5 months sold their Burpengary before it even went on the market. Picture: AAP/ Megan Slade.Source:News Limited
THESE are the rising stars of Brisbane’s property market, the 27 growth suburbs investors need to know about.
INVESTORS chasing capital growth in Brisbane are spoiled for choice, with a new report identifying 27 suburbs where house prices are tipped to rise — and more than half of them have a median price of less than $500,000.
Property analyst Terry Ryder has identified the rising stars of the property market — where sales are rising steadily and house prices are set to follow. And they’re not the inner-city, blue chip suburbs you might expect.
The report examines sales activity, rather than prices, to determine the best and worst local government areas for property market growth.
The Moreton Bay region has 10 rising star suburbs where sales have been steadily increasing including Banksia Beach, Bellmere and Deception Bay.
Quarterly sales in Burpengary have risen from 69 to 97 in the past six quarters, while at Sandstone Point, sales are up from around 40 per quarter to 55 to 60.
Homes are selling so fast in the area that Jared and Annaliese Bullock just sold their four-bedroom house in Burpengary for $475,000 before they had a chance to even put it on the market.
Mrs Bullock said she contacted an agent at RE/MAX Ultimate, who brought through a couple of potential buyers and the offer was made within days.
But she’s not too surprised, given how close the suburb is to the train station, shops and the highway. The couple also recently bought two units as investment properties in nearby Caboolture. Acacia Ridge, Algester, Eight Mile Plains, Kuraby and Sunnybank Hills are also predicted growth areas.
“It’s the affordable, outer areas that have got the most activity at the moment,” Mr Ryder said.
“The infrastructure is pretty good, with train links to the centre of the city, and there’s lots of shopping centres and good amenities.”
“The sweet spot is to be about 200 metres from a school, a shopping centre and a train station.”
SUBURBS WHERE SALES ARE RISING
Acacia Ridge $402,000
Banksia Beach $550,000
Caboolture South $290,000
Deception Bay $345,000
Eight Mile Plains $788,000
Ferny Grove $595,000
Kippa Ring $415,000
Mt Warren Park $390
Sandstone Point $420,000
Sinnamon Park $720,000
Sunnybank Hills $660,000
Victoria Point $522,000
Originally published: www.news.com.au
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